The Volkswagen Supervisory Board announced at a press conference that it has selected a new chairman in Berlin, Wednesday. The new chairman, Hans Dieter Potsch, has been a member of the Volkwagen Supervisory Board since 2003 and will be serving as the new chairman starting November. The emissions scandal involving around 11 million vehicles erupted after U.S. car emission tests. Volkswagen reportedly set aside $7.27 billion (€6.53 billion) to cover potential costs although some experts are estimating that the whole incident could cost the car giant a total of around $18 billion (€16 billion).
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